Business

Customs increases monthly revenue from N202bn to N334bn

The Comptroller-General of Nigeria Customs Service, Adewale Adeniyi, says the NCS recorded impressive surge in monthly revenue collection from N202 billion to N333.9 billion in the past four months.

Adeniyi made this known at a national workshop on legislative compliance in Abuja on Wednesday, November 8, 2023.

He said the service collected an average revenue of N202 billion in the first half of the year, adding that in the past four months, monthly revenue collection surged to N333.9 billion between July and October, showing a 65.5 per cent increase.

Adeniyi stated that Customs partnership with the National Assembly yielded positive outcomes through a review and enhancement of tariff structures and regulations.

He said the NCS managed to optimise revenue collection and ensured that funds were available for national development projects.

READ ALSO: Customs intercepts N1.24bn donkey skins, vehicles, rice, others

The Customs boss said: “One of our early achievements has been a remarkable boost in monthly revenue collection.

“I am delighted to announce that we have consistently exceeded the monthly target collection of N307 billion, marking a remarkable departure from previous performances.

“The joint efforts of the NCS and the legislative arm of government have allowed us to respond effectively to public concerns and petitions.”

Speaking on the challenges faced by Customs, Adeniyi said it often encountered budgetary constraints that limited its capacity to effectively enforce compliance.

The limitations, he said, could affect the acquisition of modern technology; the organisation of training and recruitment of personnel required for effective enforcement.

The Customs boss added that inadequate infrastructure and technology at border posts could impede the service ability to inspect and regulate trade effectively, leaving room for non-compliance.

The Star

Segun Ojo

Recent Posts

EPL: Salah nets brace as Liverpool beat Southampton to go 8 points clear

Mohamed Salah fired Liverpool eight points clear at the top of the Premier League with…

2 hours ago

Leicester City sack coach Steve Cooper after 5 months in charge

Premier League side Leicester City have sacked manager Steve Cooper after just five months in…

3 hours ago

Okpebholo sets up panel to probe Obaseki’s administration

Edo State Governor Monday Okpebholo has constituted a 14-man Assets Verification Committee to probe the…

4 hours ago

Access Bank: N500m not missing from our customer’s account

Access Bank Plc has debunked a report of a missing N500 million from the account…

5 hours ago

PDP: We’ll resist attempt to impose Seyi Tinubu as Lagos governor

The Lagos State chapter of the opposition Peoples Democratic Party (PDP) has vowed to stop…

7 hours ago

NDLEA arrests Chinese for cocaine dealing, seizes N4.3bn drugs at ports

The operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a Chinese man,…

8 hours ago

This website uses cookies.